Gozem, an African super-app, has secured $30 million in Series B funding, comprising $15 million in equity and $15 million in debt. The round was led by SAS Shipping Agencies Services and Al Mada Ventures, with the funds set to scale its vehicle financing program and support expansion into new markets.
Founded in 2018, Gozem began as a motorcycle ride-hailing service in Togo. Over the years, it has evolved into a multi-service super app, expanding its reach across Togo, Benin, Gabon, and Cameroon. In 2020, Gozem launched its Super App, offering a comprehensive suite of services that includes transport, e-commerce, payments, delivery, vehicle financing, and digital banking. By integrating mobility and fintech solutions, Gozem has positioned itself as a key player in Francophone Africa’s digital economy, enhancing accessibility and financial inclusion for its growing customer base.
Unlike traditional ride-hailing platforms, Gozem places a strong emphasis on driver empowerment. Founders Gregory Costamagna and Raphael Dana highlight that Gozem’s ecosystem is designed to help drivers increase their earnings, access financial support, and progress in their careers.
The company’s ride-hailing service extends beyond cars to include motorcycles and three-wheelers, offering drivers flexible earning opportunities. Through its vehicle financing program, drivers can own their vehicles through installment-based payments without the burden of large upfront costs. Instead, Gozem deducts small portions from their daily earnings, ensuring affordability.
“Our mission is to create a pathway for drivers to grow,” said Costamagna. “A driver can start with a motorcycle, transition to a three-wheeler, and eventually own a car. Their success fuels our success.”
Initially piloted in 2021 with a $5 million Series A round, Gozem’s vehicle financing model has expanded significantly. The company has deployed over 7,000 financed vehicles with backing from international lenders, including the International Finance Corporation (IFC).
To keep attracting new drivers, Gozem purchases vehicles using a blend of debt and equity, allowing more drivers to join the platform with flexible repayment structures. Competing with companies like Uber-backed Moove, Asaak, and MAX, Gozem ensures that financing remains sustainable by aligning payments with driver income levels.
A large portion of the newly raised debt funding will be directed toward expanding this vehicle financing initiative. Additionally, Gozem is in discussions to secure another $20 million to fuel further growth across Francophone Africa.
Gozem has been uniquely successful as a super app integrating mobility, fintech, and e-commerce into one ecosystem. Gozem’s commerce division has seen strong adoption, particularly in digital ticketing, with over 50,000 event tickets sold in Togo alone. Additionally, its digital banking arm, Gozem Money, launched through the acquisition of Moneex in 2023, is already processing millions of dollars in transactions daily.
Currently, Gozem boasts nearly 10,000 registered drivers and over a million users, with hundreds of thousands of active users monthly. The company expects to triple or quadruple its growth by 2025, leveraging the fresh capital and its expanding financial services portfolio.
Co-founder Raphael Dana believes that attracting investors like SAS Shipping Agencies Services and Al Mada Ventures validates Gozem’s long-term strategy. These investors bring deep experience in Africa’s logistics and financial markets, reinforcing confidence in Gozem’s super app vision.
“It’s a strong signal that industry players operating in our core markets believe in what we’re building,” said Dana.
With its growing footprint, Gozem is set to redefine mobility and financial access across Francophone Africa, blending ride-hailing, fintech, and commerce into one seamless digital experience.
